South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test. Retail partnerships and global initiatives like Project Agora highlight the broader impact of…
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UBS reported on Friday that U.S. stocks extended their rally as new economic data, including a 1% rise in July retail sales, eased concerns about a potential recession. Despite the encouraging consumer resilience, UBS cautioned that the risk of a significant economic slowdown remains, especially after weaker July jobs data. Investors are advised to wait…
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Dtcpay, formerly Digital Treasures Center, is MAS-registered and already provides some point-of-sale and online crypto payment services. Singapore-based dtcpay is launching a payment system that will use fiat and cryptocurrencies for in-store and online payments. The company mentioned Tether (USDT), Ether (ETH) and Bitcoin (BTC) in its announcement. The company is partnering with open-source blockchain…
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Despite seeing falling trading volumes, Coinbase said they were “pleased” with how the quarter played out. Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as inotched a year-on-year increase in revenue despite lower trading volumes. The firm’s net loss in Q3 was trimmed from a $545 million net loss…
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YouTube crypto channels and other social media platforms play a crucial role in disseminating information and shaping retail investor sentiment. According to a recent analysis conducted by crypto research firm Delphi Digital, YouTube crypto channels are a key source of information for retail investors. … Read More: YouTube Crypto Channels Can Act as Key Information Source for Retail Investors:…
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The recent regulatory approval for Coinbase’s international subsidiary comes within a month of getting the NFA nod to offer crypto derivatives services to institutional clients in eligible U.S. states. Coinbase International Exchange, a class F license holder from the Bermuda Monetary Authority (BMA), announced it has received additional regulatory approval, allowing the platform to offer perpetual futures…
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According to Latvijas Banka, 4% of the population bought crypto assets in February, down from 8% in 2022, while payments “continue to prevail.” The number of people buying crypto assets in Latvia is declining, Latvijas Banka said in its 2023 “Financial Stability Report.” The central bank attributed the falling interest in crypto to negative sentiment…
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Renowned bitcoin investor and venture capitalist, Tim Draper, envisions a future where bitcoin emerges as a formidable competitor to the world’s fiat currencies. During a recent interview with Fox News, Draper argued that bitcoin’s inherent safety and superiority surpass those of traditional banking systems and government-controlled fiat currencies. Venture Capitalist Tim Draper Says Bitcoin Is…
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With 11 megalopolises and three currencies, Guangdong, Hong Kong and Macao make up a region that is ripe for central bank digital currency research. British multinational bank Standard Chartered and PwC China have teamed up to produce a white paper on applications for central bank digital currency (CBDC) in the so-called Greater Bay Area of…
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A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.” UBS Market Strategists Believe Mt Gox Payouts Won’t Destabilize Bitcoin’s…
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